OnLive CEO Leaves Company, Lead Investor Takes Reigns.

Steve Perlman, the founder and chief executive officer of OnLive, has resigned from the company, leaving his place to Charlie Jablonski, the head of OnLive operations. Gary Lauder, a venture capitalist and a lead investor of OnLive, assumed the role of the chairman of the board. The company claims it needs to concentrate on execution and breaking even.

"The new OnLive is emerging with greater financial security and a brighter outlook on the future. OnLive is now positioned to execute against longer-term projects with our breakthrough technology, products and services. I spent my first week with OnLive listening, to gather people’s thoughts and suggestions. It’s an impressive group, and I am even more convinced that this company is poised for greatness," said Gary Lauder, the chairman of OnLive.

OnLive, a well-known video game streaming service, earlier this month fired all of its staff and filed an alternative to bankruptcy, a status that provides companies in financial trouble a level of protection from creditors. The company does not shut down its services as it believes in eventual prosperity. The staff reportedly started to blame former chief executive of OnLive for not selling the business, like competing Gaikai video game streaming service, to a big company or a strategic investor. It could provide the funds necessary to continue enhancing the data centers needed to operate the video games streaming services.

"It’s been a very long journey, starting over a decade ago, and for most of that time it’s been round-the-clock work, with almost no break at all. From the first presentations of OnLive ten years ago, to recent product releases, we have overcome immense challenges, not just in terms of technical scope and complexity, but in getting past enormous skepticism, and bringing to market an extremely disruptive product. [...] I have other projects long in need of my focus and attention, and Gary needed to lock down the structure for the new company. In the balance, it was a good time to move on, and Gary understood," said Steve Perlman in a letter to OnLive fans.

The new chief executive officer of OnLive has been serving the company for many years and was responsible for creation of the extremely complex infrastructure needed to support video game streaming services. Previously, he worked for 16 years with the National Broadcasting Corporation (NBC), where he served as head of engineering and technology. He was awarded four Emmys for his work on NBC’s coverage of the Olympics.